Previously, the term ‘casino’ used to refer to a country house or an Italian style villa. However, it was in the early years of the 19 th century that the term came to be designated slot gacor hari ini bin its present meaning with several separate buildings dedicated to the purpose of entertainment activities including gambling as a fun activity. Today casinos and gambling are great activities for passing leisure time and most hotels, restaurants and shopping arcades providing gambling facilities to its consumers. This is especially on a high during festivals or occasions of celebrations and in such situations, the hotels and restaurants offer better stakes and huge profit revenues to its customers therefore luring crowds to participate in gambling. It is also interesting to point out here that with the progress of technology and the birth of the internet, casinos and gambling activities too have been revolutionized with the emergence of what is referred to as online casinos or virtual casinos.
While a little bit of occasional indulgence in gambling activities isn’t harmful, too much addiction can become a matter of concern. Time and again it has been pointed out by psychiatrists that over indulgence in gambling activities can result in causing psychological disorders. This is prevalent as casinos offer huge benefits upon winning which are successful in attracting the players. Once the game begins, some players continue to play the game even after losing huge stakes in hope that may be they will hit the jackpot amount soon. But in cases it doesn’t happen, the player may lose enormous amounts of money and he might also fall into a debt trap which can affect him psychologically or may force him to commit heinous crimes to recover the amount lost.
While the gambling industry is promising, it has also their nemeses which lead its way into its downfall. One of this is the gambling site operators themselves. Obtaining a random number is still an arbitrary. Many skeptics believe that online gambling programs can be manipulated. Other gambling sites counter this skepticism by publishing their audit of odds and even announcing the higher probability of winning of the bettor. Not to mention also the rouge sites who are sharking on the bettors’ money leaving them always empty handed. These are few issues that greatly affects the business.
But there is no greater adversary of the business than the us government itself. Everything has been changed after 9/11 bombings. The Wire Act has been promulgated to combat money-laundering cases. Money laundering has already been outlawed in the us and some parts of the world. It is believed and an accepted fact that laundered money is the source of funds for terrorist and other criminal syndicates. The anonymous nature of the bettors can be potential way of harboring fraudulent money transactions. With this reason, has reached its darkest period when it was outlawed in the us. Major Internet site follow suits by removing any advertisement promoting online gambling. However, online gambling has also won some allies in the us Congress because of its potential cash cow for tax. Rep. Barney Franks, Robert Flex, and Jim McDermott passed different congressional bills that would legalize and regulate operations of online casinos. It is yet to be known if these bills can pass the us Congress. But online casinos have already lost millions in terms of a potential market in the us.
While the US is hostile to online casinos, the european union and some Caribbean Countries welcome it as one of its thriving and growing industry. The outlawing of the online casinos in the us prompted Antigua and Barbados to present its case to the World Trade Organization. Thanks to the laws in trade liberalization, WTO favored them and rejected any claims by the US that is only protecting public safety in outlawing it. The case is currently in a debate in WTO court. If the US Will loss the case, they will be forced to legalize and pay indemnities to the affected countries as will be ruled by the WTO Court.
Online casinos may be the greatest rival to the traditional brick and mortar, but it is yet to be seen if the worldwide public will accept it without any skepticism. Not only that, online casino has still to win its case to some countries, especially in the us, which outlawed them. It is yet to prove that this industry is not a vessel of fraudulent transaction. Online casinos may not yet equal its success to the real casinos; however, it will eventually replace little by little the traditional ones. New technological innovation has also paved way to the new era of gambling industry.